BELARUS NEWS AND ANALYSIS

DATE:

12/12/2006

Russia, Belarus fail to clear way for single currency

MOSCOW, December 12 (RIA Novosti) - Russia and Belarus, which are working to create a union, have failed to coordinate issues for the launch of a single currency, Russia's parliamentary speaker said Tuesday.

The introduction of the Russian ruble as a single currency has been postponed many times since the neighbors started negotiating the union in 1997. Talks have been complicated by a host of issues, including energy disputes and a tug-of-war between the leaderships.

Speaking after a session of the Council of Ministers of the Russian-Belarusian Union State, Boris Gryzlov said: "A consensus has not been reached for a variety of reasons, including the need to set up two issuing centers and form a board of directors of a unified bank."

But Gryzlov highlighted the importance of further efforts, adding the countries were maintaining an intensive dialogue focused on the welfare, humanitarian and military spheres, as well as on border protection.

"Russia cannot boast such relations with any other state," the lawmaker said.

Russia's Vladimir Putin and Belarus' Alexander Lukashenko last set January 2006 as the date for introducing a single currency.

Source:

http://en.rian.ru/russia/20061212/56828174.html